If you’re 62 years old or older, you can potentially qualify for a Reverse Mortgage to borrow money against the equity you’ve built in your existing home. Rather than applying for a typical purchase loan or fixed-rate mortgages — which require you to make loan payments — reverse mortgages don’t need any payments to be made by the homeowner. Instead, the new reverse mortgage loan balance becomes payable when the homeowner moves away from home permanently, sells the house, or passes away.
Considering a reverse mortgage for your retirement years? Let us help you through the process to secure the best possible loan for your financial needs.